嘉泽新能(601619) - 2021 Q4 - 年度财报

Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was approximately ¥751.8 million, representing a year-on-year increase of 32.38%[6] - The company's operating revenue for 2021 was CNY 1,422,609,105.71, representing a 40.62% increase compared to CNY 1,011,659,256.02 in 2020[28] - The net profit attributable to shareholders for 2021 was CNY 751,799,414.31, a significant increase of 279.59% from CNY 198,057,142.70 in 2020[28] - The net cash flow from operating activities for 2021 was CNY 539,644,627.58, which is a decrease of 16.85% compared to CNY 649,020,553.90 in 2020[28] - The total assets at the end of 2021 were CNY 12,030,529,644.12, a slight decrease of 1.62% from CNY 12,228,811,441.20 in 2020[30] - The basic earnings per share for 2021 increased to CNY 0.34, up 240.00% from CNY 0.10 in 2020[30] - The weighted average return on equity for 2021 was 17.16%, an increase of 11.43 percentage points from 5.73% in 2020[30] - The company's net assets attributable to shareholders at the end of 2021 were CNY 5,234,882,966.88, reflecting a 42.87% increase from CNY 3,664,011,848.79 at the end of 2020[28] Dividend Distribution - The company plans to distribute cash dividends totaling ¥243.4 million for 2021, which is 32.38% of the net profit attributable to the parent company[6] - The proposed cash dividend for 2021 is RMB 243,428,705.90, representing 32.38% of the net profit attributable to shareholders[197] - The company plans to distribute a cash dividend of approximately RMB 1.00 per 10 shares, equating to RMB 0.10 per share (including tax)[197] - The cumulative undistributed profits of the parent company amount to RMB 1,474,112,220.31[197] - The company has established a cash dividend policy that mandates a minimum distribution of 10% of the annual distributable profit, contingent on certain conditions being met[194] Operational Capacity and Development - The company reported a total installed capacity of wind power projects, with a focus on expanding its operational capacity in the coming years[19] - The company's future development strategies include potential market expansions and new technology developments in renewable energy[19] - The company has completed the acquisition of 77.25% of the partnership interests in Ningbo Fund by the end of the reporting period[40] - The company established two subsidiaries, Jialong Asset Management and Jiajun Power Sales, to focus on new energy asset management[40] - The company is actively developing new energy projects in collaboration with major enterprises like CRRC Group and Goldwind Technology[39] - The company has formed a strategic partnership with Prologis to enhance project development and asset management capabilities[41] Renewable Energy Initiatives - The total installed capacity of renewable energy in China reached 1.063 billion kW, accounting for 44.8% of the total installed capacity[42] - Wind power generation in 2021 was 652.6 billion kWh, a year-on-year increase of 40.5%[44] - The average utilization rate of wind power nationwide was 96.9%, an increase of 0.4 percentage points year-on-year[45] - The company’s renewable energy asset management business reached a scale of 2,425 MW, with external service capacity of 1,357 MW, generating revenue of 27.36 million yuan and a net profit of 12.86 million yuan[53] - The company’s photovoltaic power generation capacity reached 306 million kW by the end of 2021, with a total generation of 325.9 billion kWh, a year-on-year increase of 25.1%[48] - The company’s total installed capacity of solar power stations at the end of the reporting period was 100 MW, with no sales of solar power stations during the period[98] Market Expansion and Strategic Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and profitability[22] - The company plans to focus on renewable energy development, aiming for a non-fossil energy consumption ratio of 20% by 2025 and 25% by 2030[120] - The total installed capacity for wind and solar power is projected to exceed 1.2 billion kilowatts by 2030[120] - The company aims to enhance its asset management and expand into power trading, green certificate trading, and carbon trading to ensure sustainable innovation and development[124] - The company plans to add approximately 230 million kW of new power generation capacity in 2022, with around 180 million kW from non-fossil energy sources[121] Risk Management - The company faces risks related to changes in supportive policies, including potential fluctuations in grid electricity prices and tax incentives[130][131] - The company is actively working to mitigate risks associated with wind and solar power curtailment due to grid stability issues[132][135] - The company faces risks related to interest rate fluctuations, which could adversely affect operating performance if benchmark rates rise significantly[137] - The procurement cost of power generation equipment accounts for over 60% of total investment, making price fluctuations in wind turbines and solar panels a significant risk to operating costs[141] - The company is vulnerable to natural disasters and unforeseen weather changes, which could adversely affect power production and revenue[144] Governance and Management - The company has established a robust governance framework, including a board of directors with 9 members and 3 independent directors, ensuring clear roles and responsibilities[148] - The company maintains financial independence with a dedicated finance department and independent accounting systems, ensuring compliance with tax regulations[151] - The company has a complete and independent business system, with no overlap in operations with its controlling shareholders, ensuring no competition in core business areas[151] - The company has implemented a maintenance system to minimize downtime of power generation equipment, but adverse weather could still lead to significant operational disruptions[142] Employee and Management Compensation - The company’s chairman and senior management received a total pre-tax remuneration of 176.40 million yuan during the reporting period[162] - Total remuneration for all directors, supervisors, and senior management amounted to CNY 10.4876 million[177] - The company has established a remuneration decision-making process based on its compensation management system[177] - The company adjusted the basic salary standards for the chairman and senior management to enhance the incentive mechanism[188]